Consumer Protection

Where We Stand

Credit unions are the original consumer protectors in the financial services sector; commonsense consumer protection regulation recognizes that our structure and mission makes us different.  

Impact on Credit Unions

The current CFPB structure and the one-size fits all rulemakings are not working for credit unions or their members. It's created a rigged system that favors the largest banks in the country. It's driving consolidation in the credit union system and is limiting member choices. Credit unions tells us they have stopped offering or plan to stop offering products as a result of new regulatory burden; that's not something we see happening at the largest banks. While the CFPB has provided modest thresholds to some of its rules, they have been insufficient.

Victories We've Won
  • Filed ADA Litigation Amicus briefs in support of credit unions in several states, including Texas, Ohio, Illinois, Alabama, and Georgia ​
  • Positive outcomes in several ADA cases​
  • Filed an amicus brief in overdraft class action litigation​
  • Meetings with Assistant Attorney General at DOJ on ADA​
  • Meeting and GAC Speaker - CFPB Acting Director Mick Mulvaney​
  • Ongoing meetings and engagement on CUNA TCPA petition on Hill and at FCC​
  • CFPB issued an interpretive rule to swiftly implement S. 2155 changes to HMDA, as CUNA recommended. 
  • CFPB RFI's seeking feedback on a number of changes suggested by CUNA​​
  • Senior Safe Act and HMDA reforms passed in S. 2155​​
  • H.R. 620, the ADA Education and Reform Act of 2017, passed the House​​
  • ​H.R. 1116, the TAILOR Act, passed the House​​
  • ​H.R. 1457, the MOBILE Act, passed the House​​
  • ​H.R. 2954, the Home Mortgage Disclosure Adjustment Act, passed the House​​
  • ​H.R. 3299, the Protecting Consumers' Access to Credit Act of 2017, passed the House​​
  • H.R. 4607, the Comprehensive Regulatory Review Act, passed the House

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